Mongolia: Request for Stand-By Arrangement: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Mongolia
IMF Staff Country Reports, April 21, 2009
Source details
- Canonical URL
- Mongolia: Request for Stand-By Arrangement: Staff Report; Staff Supplements; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Mongolia
Other formats
Bibliographic details
- Published: April 21, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451826982.002
Program objectives and focus
- Aim: Proposed Stand-By arrangement (SBA) for Mongolia.
- Primary goals:
- Smooth adjustment to the catastrophic terms-of-trade shock.
- Restore health to the country’s fiscal finances.
- Allow for exchange rate flexibility in line with market conditions.
- Role of the IMF program: Outline a clear macroeconomic framework to provide the basis for the authorities to approach the broader international community for financial support.
Macroeconomic policy stance and instruments
- Monetary policy:
- Calibrated to lower inflation.
- Maintain a flexible exchange rate.
- Safeguard international reserves.
- Exchange rate policy:
- Flexibility in line with market conditions emphasized as a program objective.
Intended outcomes and policy linkages
- Fiscal policy: Restore fiscal health (phrase from source).
- External support: Program designed to enable authorities to seek broader international financial support by providing a clear macroeconomic framework.
- Financial stability measures implied: Exchange rate flexibility and reserve safeguards to support macro-stability during adjustment.
Keywords and thematic tags (as provided)
- blanket deposit guarantee scheme, copper company, CR, Credit, Currencies, debt service, Exchange rates, Global, government, ISCR, Mongolia, Mongolia's adjustment, rate, reference rate, U.S. dollar